Democratic Principles Involved In The Auto Industry Financing And Restructuring Act
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Publicado: 16 de febrero de 2013
Democratic Principles Involved in the Auto Industry Financing and Restructuring Act
Democratic Principles in the Auto Industry Financing and Restructuring Act
A very big consequence of theFinancial Crisis of 2008 has been the loss of more than 8.4 million jobs. The unemployment rate in the United States rose from 5% to 10% in only 2 years. By the time that President Obama took Office inJanuary of 2009, people were losing their jobs at a rate of 800,000 per month (The White House, 2012).
In an effort to relief this problem, President Obama took several initiatives. Some of theseinitiatives were: increase manufacturing jobs, and assist public servants to keep their jobs. Another important event that led to the recovery of our country was the auto-industry bailout by PresidentBush in 2008.
Saving the Auto Industry
When President Obama took office in 2009 the American automotive industry was about to collapse. This industry had already lost over 400,000 jobs alone (TheWhite House, 2012). But at this point, the auto industry was already in recovery since in 2008 President Bush passed the Auto Industry Financing and Restructuring Act. President Bush acted on this issuebecause the loss of this industry would have caused tremendous economic consequences to entire communities in the United States.
In order to pass this act there were a few democratic principlesinvolved such as the separation of powers, lobbying, and voting. This is done to ensure that the process is fair and the interests of the people are taken in account.
Separation of Powers
First,President Bush would have not been able to pass an act like this by himself. He can propose it, recommend it, but not pass it. Congress is the only one who can pass acts (Segal, 1997). In the United Statesthe government is divided in 3 main branches: Executive, Legislative, and Judicial. The executive power is given to the president who has the responsibility of executing any instructions given by...
Democratic Principles in the Auto Industry Financing and Restructuring Act
A very big consequence of theFinancial Crisis of 2008 has been the loss of more than 8.4 million jobs. The unemployment rate in the United States rose from 5% to 10% in only 2 years. By the time that President Obama took Office inJanuary of 2009, people were losing their jobs at a rate of 800,000 per month (The White House, 2012).
In an effort to relief this problem, President Obama took several initiatives. Some of theseinitiatives were: increase manufacturing jobs, and assist public servants to keep their jobs. Another important event that led to the recovery of our country was the auto-industry bailout by PresidentBush in 2008.
Saving the Auto Industry
When President Obama took office in 2009 the American automotive industry was about to collapse. This industry had already lost over 400,000 jobs alone (TheWhite House, 2012). But at this point, the auto industry was already in recovery since in 2008 President Bush passed the Auto Industry Financing and Restructuring Act. President Bush acted on this issuebecause the loss of this industry would have caused tremendous economic consequences to entire communities in the United States.
In order to pass this act there were a few democratic principlesinvolved such as the separation of powers, lobbying, and voting. This is done to ensure that the process is fair and the interests of the people are taken in account.
Separation of Powers
First,President Bush would have not been able to pass an act like this by himself. He can propose it, recommend it, but not pass it. Congress is the only one who can pass acts (Segal, 1997). In the United Statesthe government is divided in 3 main branches: Executive, Legislative, and Judicial. The executive power is given to the president who has the responsibility of executing any instructions given by...
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